Janet Yellen remarks crossing the wires (Bloomberg)

  • valuations on stocks, commercial real estate are high on historical basis "but the financial system seems to be sound"

I am not sure of the venue she is speaking from. But, Yellen's views still very much of relevance. Very clever indeed she is.

ADDED ... here we go, more:

  • current state of the U.S. economy is highly favourable
  • payroll gains in a range of 90 - 120K a month ought to be sustainable ... at that pace, the unemployment rate will gradually fall and "I still will not expect to see some dramatic pickup in inflation"
  • "Not seeing any real evidence of overheating in the labor market"
  • "I think the Fed should and has been gradually raising rates to try to stabilize the labor market, to bring down the pace of job growth to a sustainable level to avoid the economy overheating"

Yellen at an event sponsored by the University of Pennsylvania's Wharton business school

Chair no more